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Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
Letest Study Reports:-Term assurance   uk - june 2013 By MarketResearchReports.biz
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Letest Study Reports:-Term assurance uk - june 2013 By MarketResearchReports.biz

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Mintel’s research identifies around 3.4 million prospective life insurance customers. These are people who do not currently have a policy, but who say they might consider arranging one within the next …

Mintel’s research identifies around 3.4 million prospective life insurance customers. These are people who do not currently have a policy, but who say they might consider arranging one within the next 12 months.
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  • 1. Term Assurance - UK - June 2013Mintel’s research identifies around 3.4 million prospective life insurance customers. These are peoplewho do not currently have a policy, but who say they might consider arranging one within the next 12 months.There is clearly good potential to expand the market by promoting simple, affordable and flexible solutions,which will appeal to these market prospects.table Of Contentintroductionreport Scope And Market Definitionabbreviationsexecutive Summarythe Marketstandard Model Predicts Slow Premium Growthfigure 1: Forecast Of Total New Individual Term Assurance Premiums, At Current Prices – Fan Chart,2007-17recent Performancemarket Factorsgreater Regulation And Mixed Economic Backdroprising Claims Costschanging Homeownership Trendscompany, Brands And Innovationa Concentrated Marketfigure 2: Market Shares Of The Top Five Providers Of Individual Term Assurance, Based On Volume OfNew Sales, 2012product Innovationadvertising Activitydistribution Trendsthe Consumeroverall Penetration Of Life Coverfigure 3: Segmentation Of Uk Adult Population, By Life Insurance Provision, March 2013ownership Of The Main Policy Typesfigure 4: Ownership Of Life Insurance And Related Protection Products, March 2013main Reasons For Eschewing Coverfigure 5: Top Eight Reasons For Not Having Life Insurance, March 2013sources Used Or Consulted Before Purchasefigure 6: Sources Used/consulted To Help Select Policy/provider, March 2013factors Influencing Policy Choicefigure 7: Factors Influencing Policy Selection, March 2013general Attitudes Towards Protection InsuranceTerm Assurance - UK - June 2013
  • 2. identifying New Prospectswhat We Thinkissues In The Marketwhat Are The Short-term Prospects For Life Insurers?what Impact Are Online Aggregators Having On This Market?why Do More Than Half The Population Eschew Cover?how Can Providers Broaden The Appeal Of Term Assurance?what Is The Argument For A Simple Life Cover Product?will The Average Premium Continue To Fall?trend Applicationtrend: Help Me Help Myselftrend: Let’s Make A Deal2015: Brand Interventionmarket Driverskey Pointslife Insurance Industry Is Shaped By A Broad Range Of Factorsrecent And Forthcoming Regulation, Legislation And New Initiativestough Economic Backdrop Has Mixed Implications For Insurersdepressed Housing Market Hampers Growth In The Mortgage Term Sectorthe Privately Rented Sector Continues To Expandfigure 8: Uk Housing Stock, By Tenure, 1991-2011housing Transactions Continue To Run Well Below Pre-crisis Levelsfigure 9: Number Of Uk Residential Property Transactions With A Value Of £40,000 Upwards –Seasonally Adjusted, Q1 2007-q4 20122012 Saw Modest Growth In First-time Buyer And Home Mover Loansfigure 10: Number Of Loans For House Purchase, By Type Of Borrower, 2007-12average Sums Assured Linked To Mortgage Advancesfigure 11: Average Sum Insured For New Term Assurance Policies Versus Average First-time BuyerAdvance, 2003-12assumptions Are Based On Mortality Ratesfigure 12: Number Of Deaths In England And Wales, By Age And Gender, 2011increasing Longevity Has Helped To Alleviate Pressure On Premiumsfigure 13: Period Life Expectancy From Birth For Men And Women, 1985-2035people Are Living Longer, But Not Necessarily In Good Health…… Leading To Rising Claim Costs On Protection Policiescompetitor Productskey Pointsmore Than Half Of All Uk Adults Have No Form Of Life Coverfigure 14: Segmentation Of Uk Adult Population, By Life Insurance Provision, March 2013Term Assurance - UK - June 2013
  • 3. death-in-service Benefit Should Be View As A Supplementary Rather Than Alternative Optionthere Are More Whole-of-life Than Term Policies In Forcefigure 15: Number Of Individual Protection Policies In Force, By Type, 2011some 45% Of New Mortgage Term And 35% Of Protection Term Assurance Sales Included Critical IllnessCover In 2012figure 16: Critical Illness Rider Benefits As A Proportion Of New Individual Term Assurance Business,2008-12market Swot Analysisfigure 17: Term Assurance Market – Strengths, Weaknesses, Opportunities And Threats, 2013who’s Innovating?key Pointsslowdown In Product Developmentbgl Subsidiary Launches Direct-only Life Coverdirect Life Develops Universal Application For Protection Advisersproviders Start To Add Protection Products To Adviser Platformsmarket Size And Forecastkey Pointsbusiness In Forcesales Of Term Assurance Were Up 5% In 2012…figure 18: New Individual Term Assurance Sales And Average Annual Premium, 2008-12… Driven Mainly By A Strong Rise In Protection Term Business…figure 19: Volume Of New Individual Regular-premium Term Assurance Policy Sales, By Policy Type,2008-12… Where The Average Cost Of A New Policy Continues To Fallfigure 20: Average New Premium – Mortgage Term Versus Protection Term, 2008-12slow Premium Growth Forecastfigure 21: Forecast Of Total New Term Insurance Premiums, At Current Prices – Fan Chart, 2007-17figure 22: Forecast Of New Individual Critical Illness Premiums, At Current And Constant Prices, 2008-17forecast Methodologyfan Chart Explanationmarket Sharekey Pointslegal & General Strengthens Its Market-leading Positionfigure 23: Top Five Providers Of Individual Term Assurance, By Sales Volumes, 2012companies And Productslegal & Generalfigure 24: Key Financial Data For Legal & General, 2011-12Term Assurance - UK - June 2013
  • 4. avivafigure 25: Key Financial Data For Aviva Plc, 2011-12lbg And Scottish Widowsfigure 26: Key Financial Information For Lbg’s Insurance Division, 2011-12friends Lifefigure 27: Key Financial Data For Friends Life, 2011-12royal London Group (scottish Provident And Bright Grey)figure 28: Key Financial Information For Royal London Group, 2011-12brand Communication And Promotionkey Pointsabove-the-line Advertising On Life Insurance Products Is Fairly Limitedfigure 29: Total Advertising Expenditure On Life Assurance Products, By Product Category, 2009-13aviva Is Once Again The Leading Advertiser Of Term Assurancefigure 30: Top Ten Advertisers Of (term) Life Insurance Products, 2011-13tv, Direct Mail And Online Account For The Majority Of Adspendfigure 31: Advertising Expenditure On (term) Life Insurance Products, By Media Type, 2011-13channels To Marketkey Pointsmost Term Assurance Business Is Sold With Adviceifas Wrestle Share Of The Mortgage Term Market Away From Tied Advisersfigure 32: Mortgage Term Assurance Premiums, By Distribution Channel, 2008-12ifas Enjoy An Even Greater Share Of The Protection Term Sectorfigure 33: Protection Term Assurance Premiums, By Distribution Channel, 2008-12ownership Of Life Insurance And Related Protection Productskey Pointssurvey Backgroundhaving Dependents And A Mortgage Increases The Attraction Of Life Cover…figure 34: Ownership Of Life Insurance, By All Adults, Those With Children And Mortgage Holders, March2013… And Similarly, Critical Illness Coverfigure 35: Ownership Of Related Protection Insurance Products, By All Adults, Those With Children AndMortgage Holders, March 2013nearly One In Three Term Assurance Policyholders Also Have Critical Illness Coverfigure 36: Ownership Related Protection Products, By Term Life Insurance Policyholders, March 2013take-up Of Life Cover Is Highest Among Those Aged 35-54figure 37: Ownership Of Life Insurance And Related Protection Products, By Age, March 2013the Typical Term Assurance Policyholdersources Consulted Prior To Purchasekey PointsTerm Assurance - UK - June 2013
  • 5. most Policyholders Consulted An Adviser Before Purchasefigure 38: Sources Used/consulted To Help Select Policy/provider, By Type Of Policy Held, March 2013younger Adults Are More Likely To Turn To Web Aggregators And Social Networking Sitesfigure 39: Sources Used/consulted To Help Select Policy/provider, By Age, March 2013factors Influencing Purchasekey Pointsprice Governs Policy Selectionfigure 40: Factors Influencing Policy Selection, By Type Of Policy Held, March 2013only A Minority Are Influenced By Presence On Price Comparison Sitetake-up Barrierskey Pointscost Is The Top Barrier To Take-upfigure 41: Reasons For Not Having Life Insurance, March 2013a Minority Avoid Cover Due To Health Concernsparents And Renters Are Least Able To Afford Coverfigure 42: Reasons For Not Having Life Insurance, By Presence Of Children In Household And Tenure,March 2013how Age Factors Into The Equationfigure 43: Reasons For Not Having Life Insurance, By Age, March 2013attitudes Towards Life Insurancekey Pointsmost People Appreciate The Need For The Cover...figure 44: Agreement With Statements About The Importance And Relevance Of Life Insurance, March 2013... Particularly Those Who Have Itfigure 45: Agreement With Statements About The Importance And Relevance Of Life Insurance, ByOwnership Of Life Insurance, March 2013two Thirds Of Uk Adults Believe That It’s Easy To Arrange Insurance Onlinefigure 46: Agreement With Statements About Ease Of Arranging Cover And Product Flexibility, March 2013two Thirds Of Uk Adults Believe That It’s Easy To Arrange Insurance Onlinefigure 47: Agreement With Statements About Ease Of Arranging Cover And Product Flexibility, ByOwnership Of Life Insurance, March 2013upcoming Lifestage Events And Insurance Purchase Intentionskey Pointsimportant Lifestage Events Facilitate The Need For The Coverfigure 48: Lifestage Events And Insurance-related Plans Within The Next 12 Months, March 2013over 3 Million New Prospectsfigure 49: Lifestage Events And Insurance-related Plans Within The Next 12 Months, By Most PopularOwnership Of Life Insurance, March 2013Term Assurance - UK - June 2013
  • 6. appendix – Definitions And Industry Regulationmain Types Of Life Insuranceother Long-term Protection Policiesshort-term Insurance Protection Policiesadditional Regulatory Milestones Occurring Within The Past Few Yearsother Noteworthy Initiativesappendix – Market Size And Forecasttotal Market Forecast – Best- And Worst-case Scenariosfigure 50: Forecast Of New Individual Term Assurance Premiums – Best- And Worst-case Scenarios,At Current Prices, 2012-17market Forecast By Sectorfigure 51: Forecast Of New Individual Term Assurance Premiums, By Sector, At Current Prices, 2008-17mortgage Term Sector Forecastfigure 52: Forecast Of New Mortgage Term Assurance Premiums, At Current Prices – Fan Chart,2007-17figure 53: Forecast Of New Mortgage Term Assurance Premiums, 2012-17figure 54: Forecast Of New Mortgage Term Assurance Premiums – Best- And Worst-case Scenarios,At Current Prices, 2012-17protection Term Sector Forecastfigure 55: Forecast Of New Protection Term Assurance Premiums, At Current Prices – Fan Chart,2007-17figure 56: Forecast Of New Protection Term Assurance Premiums, 2012-17figure 57: Forecast Of New Protection Term Assurance Premiums – Best- And Worst-case Scenarios,At Current Prices, 2012-17forecast Methodologyfan Chart Explanationappendix – Ownership Of Life Insurance And Related Protection Productsfigure 58: Ownership Of Life Insurance, By Demographics, March 2013figure 59: Ownership Of Related Protection Products, By Demographics, March 2013appendix – Sources Consulted Prior To Purchasefigure 60: Most Popular Sources Used/consulted To Help Select Policy/provider, By Demographics, March2013figure 61: Next Most Popular Sources Used/consulted To Help Select Policy/provider, By Demographics,March 2013appendix – Factors Influencing Purchasefigure 62: Top Five Factors Influencing Policy Selection, By Demographics, March 2013figure 63: Next Five Most Popular Factors Influencing Policy Selection, By Demographics, March 2013figure 64: Least Popular Factors Influencing Policy Selection, By Demographics, March 2013Term Assurance - UK - June 2013
  • 7. appendix – Take-up Barriersfigure 65: Top Five Reasons For Not Having Life Insurance, By Demographics, March 2013figure 66: Next Four Most Common Reasons For Not Having Life Insurance, By Demographics, March 2013figure 67: Other Reasons For Not Having Life Insurance, By Demographics, March 2013appendix – Attitudes Towards Life Insurancefigure 68: Agreement With Statements About The Importance And Relevance Of Life Insurance, ByDemographics, March 2013figure 69: Agreement With Statements About Ease Of Arranging Cover And Product Flexibility, ByDemographics, March 2013appendix – Upcoming Lifestage Events And Insurance Purchase Intentionsfigure 70: Lifestage Events Planned Over The Next 12 Months, By Demographics, March 2013figure 71: Life Insurance-related Plans Within The Next 12 Months, By Demographics, March 2013Market Research Report(http://www.marketresearchreports.biz/) Marketresearchreports.biz is the mostcomprehensive collection of market research reports. Marketresearchreports.biz services are especiallydesigned to save time and money of our clients. We are a one stop solution for all your research needs, ourmain offerings are syndicated research reports, custom research, subscription access and consulting services.We serve all sizes and types of companies spanning across various industries.Contact:M/s Sheela,90 State Street,Suite 700,Albany NY - 12207United StatesTel: +1-518-618-1030USA - Canada Toll Free 866-997-4948Email: sales@researchmoz.comWebsite: www.marketresearchreports.bizTerm Assurance - UK - June 2013

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